Mirae Asset Global Investments Co. Ltd. Acquires 9,601 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 250.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,433 shares of the company's stock after acquiring an additional 9,601 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Neurocrine Biosciences were worth $1,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. RFP Financial Group LLC increased its position in shares of Neurocrine Biosciences by 346.5% in the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company's stock valued at $26,000 after buying an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Neurocrine Biosciences during the second quarter worth about $28,000. Innealta Capital LLC bought a new stake in shares of Neurocrine Biosciences in the second quarter valued at $30,000. New Covenant Trust Company N.A. purchased a new stake in shares of Neurocrine Biosciences in the first quarter worth $32,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Neurocrine Biosciences during the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Trading Up 1.6 %

Shares of NBIX traded up $1.94 during mid-day trading on Friday, reaching $122.21. 1,512,407 shares of the stock traded hands, compared to its average volume of 863,768. The company has a market cap of $12.34 billion, a price-to-earnings ratio of 32.59 and a beta of 0.36. Neurocrine Biosciences, Inc. has a 1 year low of $103.63 and a 1 year high of $157.98. The firm has a fifty day moving average price of $120.38 and a 200 day moving average price of $133.55.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.23). Neurocrine Biosciences had a return on equity of 15.68% and a net margin of 17.21%. The firm had revenue of $622.10 million during the quarter, compared to analysts' expectations of $604.11 million. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.37 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NBIX shares. Guggenheim upped their target price on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Needham & Company LLC reissued a "hold" rating on shares of Neurocrine Biosciences in a research report on Tuesday. Morgan Stanley increased their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, July 12th. Robert W. Baird increased their price target on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Finally, Piper Sandler raised Neurocrine Biosciences from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $131.00 to $159.00 in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.91.

Insiders Place Their Bets

In other news, Director William H. Rastetter sold 14,250 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the transaction, the director now directly owns 37,491 shares of the company's stock, valued at $5,499,554.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Neurocrine Biosciences news, Director Gary A. Lyons sold 11,570 shares of the company's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the completion of the sale, the director now owns 119,047 shares in the company, valued at approximately $17,908,240.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Rastetter sold 14,250 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the sale, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,336 shares of company stock valued at $7,063,652 over the last ninety days. Company insiders own 4.30% of the company's stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.